Kyrgyzstan is taking steps to establish a National Crypto Reserve, proposed to include Bitcoin and Binance Coin against the backdrop of growing digitalization in the economy.
Proposal for Bitcoin and BNB Inclusion
Changpeng Zhao, former CEO of Binance, proposed including Bitcoin and Binance Coin in Kyrgyzstan's National Crypto Reserve. This proposal followed his appointment to the National Crypto Committee of Kyrgyzstan, which focuses on digital asset policy and regulation development. Zhao highlighted his recommendations in a social media post, emphasizing the importance of these cryptocurrencies in the reserve.
Binance Partnership with Kyrgyzstan
Simultaneously, Binance launched Binance Pay in Kyrgyzstan, enabling residents to make nationwide crypto payments. This is part of a broader collaboration between the exchange and the Kyrgyz government, which also includes blockchain education programs facilitated by Binance Academy.
Gold-Backed Stablecoin Project
Kyrgyz authorities are also preparing to launch USDKG, a stablecoin pegged to gold and indexed to the U.S. dollar. Initially backed by $500 million in gold reserves, the project is set to expand to $2 billion over time.
Thus, Kyrgyzstan is actively advancing towards digitalization and integration of cryptocurrencies, reflecting a growing interest in digital financial tools.
